AMI Investment Management Inc. Sells 4,425 Shares of Alphabet Inc. (NASDAQ:GOOG)

AMI Investment Management Inc. cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 8.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,125 shares of the information services provider’s stock after selling 4,425 shares during the quarter. Alphabet makes up about 2.6% of AMI Investment Management Inc.’s portfolio, making the stock its 12th largest position. AMI Investment Management Inc.’s holdings in Alphabet were worth $7,175,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of GOOG. AXQ Capital LP bought a new position in shares of Alphabet in the third quarter valued at $804,000. Evergreen Capital Management LLC lifted its stake in shares of Alphabet by 0.8% in the third quarter. Evergreen Capital Management LLC now owns 234,565 shares of the information services provider’s stock valued at $30,927,000 after buying an additional 1,810 shares in the last quarter. Legacy Advisors LLC lifted its stake in shares of Alphabet by 13.7% in the third quarter. Legacy Advisors LLC now owns 35,489 shares of the information services provider’s stock valued at $4,355,000 after buying an additional 4,270 shares in the last quarter. Lakeshore Financial Planning Inc. bought a new position in shares of Alphabet in the third quarter valued at $513,000. Finally, LaSalle St. Investment Advisors LLC lifted its stake in shares of Alphabet by 14.8% in the third quarter. LaSalle St. Investment Advisors LLC now owns 2,799 shares of the information services provider’s stock valued at $369,000 after buying an additional 360 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Oppenheimer raised their price objective on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Stifel Nicolaus raised their price objective on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research note on Thursday, April 11th. Finally, Rosenblatt Securities downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a report on Friday. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $167.86.

Alphabet Stock Performance

Shares of GOOG stock opened at $183.42 on Monday. The firm has a 50-day moving average of $174.40 and a 200-day moving average of $155.84. The company has a market cap of $2.27 trillion, a P/E ratio of 28.13, a P/E/G ratio of 1.38 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. Alphabet Inc. has a one year low of $115.83 and a one year high of $187.50.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. During the same quarter in the prior year, the company posted $1.17 earnings per share. The firm’s revenue for the quarter was up 15.4% on a year-over-year basis. Equities research analysts forecast that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a — dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $155.67, for a total transaction of $3,502,575.00. Following the completion of the sale, the chief executive officer now owns 2,325,513 shares in the company, valued at $362,012,608.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $177.92, for a total value of $266,880.00. Following the completion of the transaction, the director now owns 3,727 shares in the company, valued at $663,107.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $155.67, for a total transaction of $3,502,575.00. Following the completion of the transaction, the chief executive officer now owns 2,325,513 shares of the company’s stock, valued at approximately $362,012,608.71. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 143,026 shares of company stock worth $24,026,243. Insiders own 12.99% of the company’s stock.

About Alphabet

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.